The Enterprise Ethereum Alliance (EEA) has launched a blockchain-neutral Token Taxonomy Initiative in partnership with major firms, according to a press release from EEA on April 17. The initiative will seek to define tokens in non-technical and cross-industry terms in a bid to drive enterprise token adoption at scale.

The new Token Taxonomy Initiative will aim to establish a shared set of terms and definitions for tokens — whichever blockchain they derive from — as a cornerstone for businesses and developers.

Standardization, the EEA’s director Ron Resnick argues, can unlock the frictionless use of tokens “to serve as, or provide access to, a set of goods, financial assets, securities, services, value or content” within enterprise-grade blockchain applications.

As well as clarifying the concept and scope of the token model, the initiative will seek to address use cases, taxonomy and terminology and technical specifications.

To this end, the project will aim to establish technical standards that can counter fragmentation between multiple blockchain protocols and ensure interoperability between platforms and use cases — whether the tokens serve currency-like purposes or represent unique assets.

The initiative will be structured to include a Token Taxonomy Framework accompanied by an educational initiative, which will be run through structured Token Definition Workshops.

The organization extended its global outreach by opening a regional office in China this February. That same month, the EEA announced it would be launching a so-called “token task force,” to be focused on ETH-derived fungible ERC-20 and non-fungible ERC-721 tokens.